USD/CHF may rise 23 - 48 pips

Pivot

0.8630

Our preference

Long positions above 0.8630 with targets at 0.8675 & 0.8700 in extension.

Alternative scenario

Below 0.8630 look for further downside with 0.8600 & 0.8565 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

0.8720

0.8700

0.8675

0.8652 Last

0.8630

0.8600

0.8565

Number of asterisks represents the strength of support and resistance levels.